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WK Tax/Accounting Revs Up 4 percent Featured

Revenue or Wolters Kluwer Tax and Accounting rose 4 percent year-over-year for the nine months ended September 30, the company said in its recent trading update. North American revenue, which comprises 62 percent of the quarter, increased by 4 percent.

By comparison,  the increase for the 9 months ended Sept. 30, 2019 was  6 percent over last year’s corresponding period. Company-wide revenue rose 2 percent for the recently ended period, 3 percent organically and in constant currencies.

Wolters Kluwer does not report actual earnings and revenue amounts in its trading updates.

The North American professional segment of Tax and Accounting “recorded modest organic growth, including a positive effect from the deferral of e-filing and bank product revenues into the third quarter due to the postponement of IRS filing deadlines”, but no percentage of change was given. The same segment in Europe was up 5 percent, better than expected.

CCH Tagetik and TeamMate, the Corporate Performance Solutions, had a 12-percent organic increase; compared to 16 percent a year earlier. Tagetik cloud subscriptions were held down by some weakness implementation services and on-premise software license sales.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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